Editorial companion

What stands out

PNC Asset Management Chief Investment Officer Amanda Agati says corporate fundamentals and consumer spending are strong enough to keep U.S. equities in favor as third-quarter earnings begin, while she is watching whether AI investment is generating returns beyond the largest megacap technology firms. A CIO-level allocation stance ahead of earnings season matters because it signals where active managers are positioning risk: leaning into domestic growth and waiting to see if AI spending broadens out to benefit a wider set of companies rather than just a handful of leaders.